Noting that there is no reason for worry over the move to withdraw Rs 2000 notes, which continue as legal tender, Reserve Bank of India Governor Shaktikanta Das has said the central bank has “more than adequate” notes of other denominations available.
There has been some speculation that the decision to withdraw Rs 2000 note may put a strain on the overall money supply. “Let me assure you, we have more than an adequate quantity of notes available, already printed. We have more than an adequate quantity of printed notes already available in the system - not just with the RBI but also at the currency chests which are operated by the banks. So, there is adequate stock available and there is no reason to worry,” Das told reporters here.
Speaking about the September 30 deadline exchange of Rs 2000 notes, he said a date was decided so that people take the process seriously and it does not become endless.
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